Disney Fantasy Online will of course take place in a Disney-themed world with non-playing Disney character hosts such as Mickey and Friends preparing the newcomers for the adventures that lie ahead. So, yes, this sounds more like a fully featured MMO rather than a casual, simplistic to the bone game (or a social world like Second Life).
Among the features announced for the upcoming title, the most interesting seems to be the option to build our own Disney-themed castles and personalize them as we see fit. Except from that, we’ll have the classing features of a MMO: pets, leveling-up, team-play and all sorts of community activities, as well as customizable avatars and battles (probably no PvP though – it would be just too much to see a Pluto vs. Goofy fight).
There are no details yet if the Disney Fantasy Online is planned to be released outside China, but one thing is clear: NetDragon is up for some big things: the company also announced yesterday their Dungeon Keeper MMO project!